Conditions now right for recovery in global dairy prices, ASB economist Penny says

Conditions now right for recovery in global dairy prices, ASB economist Penny says
Fiona Rotherham
By Fiona Rotherham April 4 (BusinessDesk) - Global dairy prices will recover this year as growth in European production has now slowed, says ASB rural economist Nathan Penny. His comments follow a Fitch Ratings report last week that forecast the modest supply response so far to low global dairy prices would prolong a recovery in prices beyond 2016. Last month, when announcing Fonterra Cooperative Group's half-year results, chairman John Wilson said the company and most of its global dairy peers were struggling to make predictions on th...